Fulfilling the commitments embedded in the Paris Agreement requires a climate-technology revolution. Patented innovation of low-carbon technologies is lower in the EU than in selected peers, and very heterogeneous across member states. We motivate this fact with an endogenous model of directed...

Between 2000 and 2007, the gender gap in earnings in the US real estate sector increased, especially in local markets where house prices appreciated relatively more. Firm frictions and the presence of small children in the household do not explain the widening of the gender gap, while sorting on...

Listo, Saberian and Thivierge (2023) conduct a careful replication of De Haas and Popov (2023) using the data, code, and instructions we made available at the time of publication. They highlight an inconsistency between the table notes and the main text in how the clustering of standard errors...

Using microdata from a U.S. household survey, we document that immigrants who lived through a sovereign default episode are 7% less likely to hold debt relative to otherwise similar immigrants who reside in the same U.S. state and come from the same foreign country but who did not experience a...

Using a pan-European data set of 8.5 million firms, this paper finds that firms with high debt overhang invest relatively more than otherwise similar firms if they are operating in sectors facing good global growth opportunities. At the same time, the positive impact of a marginal increase in...

We exploit election-driven turnover in State and local governments in Germany to study how banks adjust their securities portfolios in response to the loss of political connections. We find that local savings banks, which are owned by their host county and supervised by local politicians,...

We exploit the exogenous variation in regional credit market contestability brought on by banking deregulation in the United States to study the narrowing of the gender gap in local labor markets. We .nd that deregulation reduced the gender gap in labor force participation, as the subsequent...

Using a pan-European dataset of 8.5 million firms, we find that firms with high debt overhang invest relatively more than otherwise similar firms if they are operating in sectors facing good global growth opportunities. At the same time, the positive impact of a marginal increase in debt on...

We study the relation between the structure of financial systems and carbon emissions in a large panel of countries and industries over the period 1990-2013. We find that for given levels of economic and financial development and environmental regulation, CO2 emissions per capita are lower in...

The response of major central banks to the global financial crisis has revived the debate around the interactions between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms underlying the relationship between MP and bank...